Hospitals as Tech Innovators

Precision Agriculture
March 10, 2020
Self-Sovereign Identity
March 10, 2020

Hospitals as Tech Innovators

Hospitals are now evolving into centers for innovation in technology as well as healthcare.

Key Insight

Medical and health knowledge is increasing exponentially, and new artificial intelligence systems promise to transform how we understand and care for patients. Some hospitals are now evolving into centers for innovation in technology as well as healthcare.

Why It Matters

The future profit generators of hospitals could be an evolution from our current system, which relies heavily on insurance systems. Investing in health innovations and emerging technologies could be alternate profit centers.

Examples

In Philadelphia, Dr. Stephen Klasko, president of Thomas Jefferson University and CEO of Jefferson Health, spearheaded dozens of initiatives to transform the city’s entire hospital system. Klasko often says that medical schools are designed to “suck the creativity” out of their students, so he instead started looking to Silicon Valley to gain inspiration for new hires at Jefferson Health with backgrounds in design, technology, and creative problem solving, and who happen to be interested in the medical sciences. The hospital system is actively partnering with and investing in health and medical startups—a drastic shift from other hospital systems which instead tend to focus investments in brick-and-mortar real estate.

What’s Next

The future of health tech includes home diagnostic equipment, A.I.-powered clinical decision support tools, and sensor-embedded clothing that can improve the quality of hospital stays. Hospitals that can maintain consistent contact and interaction with patients both on- and off-site will have a better shot at keeping them healthy throughout their lifespans. Jefferson Health has partnered with a startup that is carbonizing hemp—the result is soft fabrics you can sleep, work, and exercise in that can be easily integrated with technology to give you real-time metrics on your health and communicate that information with your healthcare provider, too.

The Impact

Roughly 6.5% of Americans had one or more hospital stays in 2017. Great quality of care in hospitals can mean better, healthier lifestyles once patients return home.

Watchlist

Alphabet, Amazon, Apple, Google, IBM, Jefferson Health, Microsoft, Stanford University, Yale University, healthcare providers, hospital networks.